SACYR, S.A. ANNOUNCES TENDER OFFERS TO PURCHASE NOTES FOR CASH

SACYR, S.A. announces tender offers for XS2325693369 - Subject to New Financing Condition

06 MARCH 2023

Full announcement available via Euronext.

Sacyr, S.A. (the "Offeror") has today launched an invitation to holders of its outstanding EUR52,300,000 Notes issued on 23 March 2021 the (“March 2021 Notes”), the EUR156,300,000 issued on 21 October 2021 the (“October 2021 Notes”), the and the EUR48,300,000 Notes issued on 24 May 2022, (the “May 2022 Serie I Notes”), the EUR10,000,000 Notes issued on 31 May 2022, (the “May 2022 Serie II Notes”), the 34,000,000 Notes issued on 14 June 2022, (the “June 2022 Notes”) (the March 2021 Notes, the October 2021 Notes, the May 2022 Serie I Notes, the May 2022 Serie II Notes and the June 2022 Notes will be jointly referred to as the (“Notes”) to tender any and/or all of such Notes for purchase by the Offeror for cash (the "Offers"). The Offer is being made on the terms and subject to the conditions contained in the tender offer memorandum dated 6 March 2023 (the "Tender Offer Memorandum") and is subject to the offer restrictions set out below and as more fully described in the Tender Offer Memorandum.

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Rationale for the Offers

The purpose of the Offer and proposed issue of New Notes (as defined below) is, amongst other things, to improve the Offeror debt profile and optimise its future interest expense.

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Amount subject to the Offer and potential priority

The Offeror will accept for purchase any or all of the Notes tendered, subject to the New Financing Condition and the New Notes Condition (as defined below). Noteholders must note that, those Noteholders that will not subscribe New Notes in a nominal amount at least equal to the nominal amount of Notes tendered under the Offer will be rejected under the Offer. If the New Financing Condition (as defined below) is not met the Offeror will cancel the Offer.